Description

45-16 & 45-18 39th Place

TWO SEMI-ATTACHED MULTIFAMILY BUILDINGS 20 UNITS 60% FREE MARKET

12 Free Market Units (60%)
6 Vacant Units (4 FM, 2 RS)
17 Renovated Apartments
2 Newly Constructed Units
Family-Owned Since Early 1960s
One Block from the 7 Train
Prime Sunnyside Location
Significant Lease-Up Opportunity
New Boiler
Extensive Capital Improvements

Ideal for 1031 exchange and/or owner/operator.

The combined offering of 45-16 & 45-18 39th Place presents a rare opportunity to acquire two contiguous multifamily buildings totaling 20 residential units in the heart of Sunnyside, Queens, just one block from the entrance to the 7 train.

Family-owned and meticulously maintained since the early 1960s, the property consists of two semi-attached 10-family buildings that reflect decades of attentive ownership, ongoing capital improvements, and strong physical maintenance.

The portfolio features 17 renovated apartments and 2 newly constructed units, demonstrating a consistent commitment to upgrading and preserving the asset. Of the 20 residential units, 12 are free market, representing 60% of the portfolio and providing investors with significant operational flexibility and long-term income growth potential.

The property is currently configured with 6 vacant units, including 4 free-market apartments, creating an immediate opportunity to increase occupancy and revenue through strategic lease-up. This combination of free-market exposure and vacancy-driven upside is rarely available within Sunnyside's highly sought-after and supply-constrained rental market.

The unit mix consists primarily of one-bedroom apartments, complemented by two ground-level two-bedroom units.

Opportunities to acquire multifamily assets of this scale, location, and ownership history trade infrequently within Sunnyside.

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